Laurel Wealth Advisors LLC Sells 742,797 Shares of Visa Inc. $V

Laurel Wealth Advisors LLC trimmed its stake in Visa Inc. (NYSE:V) by 99.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,098 shares of the credit-card processor’s stock after selling 742,797 shares during the period. Laurel Wealth Advisors LLC’s holdings in Visa were worth $716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of V. Insight Wealth Strategies LLC increased its holdings in Visa by 1.6% during the 3rd quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor’s stock worth $640,000 after purchasing an additional 29 shares during the period. Old Port Advisors lifted its holdings in shares of Visa by 0.9% in the 3rd quarter. Old Port Advisors now owns 3,423 shares of the credit-card processor’s stock worth $1,169,000 after buying an additional 29 shares during the period. Carr Financial Group Corp grew its position in shares of Visa by 2.4% during the 3rd quarter. Carr Financial Group Corp now owns 1,290 shares of the credit-card processor’s stock worth $440,000 after buying an additional 30 shares in the last quarter. Define Financial LLC increased its stake in shares of Visa by 4.0% during the third quarter. Define Financial LLC now owns 779 shares of the credit-card processor’s stock valued at $266,000 after buying an additional 30 shares during the period. Finally, Patron Partners LLC raised its holdings in shares of Visa by 0.6% in the third quarter. Patron Partners LLC now owns 4,648 shares of the credit-card processor’s stock valued at $1,587,000 after acquiring an additional 30 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of V opened at $319.07 on Monday. The company has a 50 day moving average of $333.00 and a two-hundred day moving average of $338.09. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a market cap of $579.17 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 1.83 and a beta of 0.78.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.03. The business had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.75 earnings per share. As a group, analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be paid a $0.67 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s dividend payout ratio (DPR) is 25.14%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the sale, the chief executive officer owned 9,401 shares in the company, valued at approximately $3,282,641.18. The trade was a 52.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research report on Wednesday, January 21st. Evercore set a $380.00 price objective on shares of Visa in a report on Friday, December 12th. Freedom Capital raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. Bank of America raised Visa from a “neutral” rating to a “buy” rating and set a $382.00 target price on the stock in a research report on Thursday, December 11th. Finally, HSBC upgraded Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. Seven research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Visa presently has a consensus rating of “Buy” and a consensus target price of $391.43.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.